wall street sees a record day as nvidia rallies on. stock valuejumping $250 billion in one day. and if you are planning a summer holiday in europe be ready to fork out cash as fuel prices are ready to room main elevated making travel even more expensive. hello and welcome. to the us where we begin with markets rallying around nvidia's earning reports. the company has been driving games is one

of the leading tech stocks and valuable companies on wall street and on thursday it added $250 billion in stock market value. erin delmore filed this room port. nvidia fever is sweeping wall street. shares rose more than 16% on thursday on the strength of the company's earnings report. that came in after the bell on wednesday and handily beat estimates. it showed nvidia sales more than tripled after the first quarter and showed enthusiasm around artificial intelligence is a strong as ever. nvidia's ceo said that al has hit a tipping point. he is edging near a tipping has hit a tipping point. he is edging neara tipping point himself of another variety. this icon thursday sent his personal wealth of fire estimated 8.5 billion which put him on the verge of cracking into the world's top 20 wealthiest people. nvidia manufactures tubes used to power ai technology is the subject of so much excitement right now. it is one of the

magnificent seven text that routinely out performed the market and a handful of the other magnificent seven are customers of nvidia. in all it is a big day on wall street. the s&p 500 and the dowjones had record closes did not so for the nasdaq composites but it is inching closer. read it officially moves forward to sell shares to the public. the social media company will list on the new york stock exchange in march. but one that will be the first major tech ipo the first social media listing since pinterest went public. later today president biden is expected to unveil a new package of sanctions against russia over opposition to the death of alexi navalny. as the war in ukraine passes a two year anniversary the eu was also in the process of agreeing on the 13th round of sanctions against moscow. but other measures working? this is where

we are now. the russian economy did collapse and that is a decline not far off that scene during the pandemic. but since thenit during the pandemic. but since then it has recovered somewhat showing unexpected resilience. indeed, president putin has taken to boasting that the russian economy is in better shape than advanced economies and while if we have a look at the latest imf forecast, russian growth was upgraded to outperform in 2010 for it is still catching up from a big fall. unless something very specific going on. russia has poured money into its occupation of ukraine and the numbers are quite sketchy but based on the russian budget it is troubling the number of rubles devoted to its military. the share of its economy of over 7% according to expert, not seen in the post—soviet union era. russia has turned itself into a war economy and we can dive a little deeper

into that as well. you can see that the output of the military size of the economy, that has gone up and up 70% where as other industries are flat. this is not the normal productive way of running an economy. the brutal reality is that the world continues to send cash to fund the russian war economy and the sale of oil and gas as you can see here. yes, the revenue is down from 1 billion euros a day over here but there are still seven or 8 million —— seven or 800 million euros a day of the past few months. this revenue has been squeezed and the oil here has not been sent to the west but to china and india who have stepped in. often on ships purchased by the russian state to bypass sanctions. westerners acknowledge this the western economy still needs russian

energy but they prefer for russia to spend money on oil tankers rather than actual tanks. so the russian economy, driven by its transition into a war economy. western leaders say this underpins russian resilience on the battlefield as well but it cannot last, especially as prices fall and many citizens flee. the g7 is ready to the aunties by giving proceeds of sees billions to the ukraine while the war economy can't last it has bought putin more time. meanwhile the global shipping industry has had several headwinds to deal with over the past few years. from the pandemic in 2022, war in ukraine in the middle east and our disruption in the red sea. this has forced companies around the world to adapt and in some cases move their operation closer to home. according to maritime analysts the cost of making those changes in the supply change have not been passed on fully to consumers.— to consumers. what we are seeinu to consumers. what we are seeing is — to consumers. what we are seeing is that _ to consumers. what we are

seeing is that a _ to consumers. what we are seeing is that a lot - to consumers. what we are seeing is that a lot of - to consumers. what we are seeing is that a lot of the i seeing is that a lot of the cost increase that we see due to the diversions of container ships around the cape of good hope are likely going to be temporary so we saw shipping prices spike beginning in mid december when the attacks on shipping occurred and the prices are significantly elevated right now. leading to this day but what happened was that the container ship industry had ordered many ships during covid. a sharp increase during covid. a sharp increase during that time and many vessels are starting to be delivered now. so even though the red sea crisis for container shipping perspective, essentially took 6—7% of global capacity of the market beginning injanuary, late december early january. gradually all the capacity will be replaced as we move through

the first half of this year. has there been a recalibration of supply chains as a result of these developments we have seen in the last year? it is happening _ in the last year? it is happening on - in the last year? it is happening on two i in the last year? it is - happening on two levels. on a short—term level the recent report that we produced, the journal from report that we produced, the journalfrom s&p global basically found journal from s&p global basically found that journalfrom s&p global basically found that on a short—term basis companies were maximising their financials over on long—term risk mitigation for example we see fewer suppliers and less inventory and less investment inventory and less investment in logistics technology. all of which is counterintuitive given the extraordinary disruptions we saw during covid and moves like that live supply chains more vulnerable. at the same time we see a longer—term basis very active reassuring and friend shoring, you know, on a

long—term basis, it is in response to some of the big picture geopolitical risks that see suites are seeing around the world right now. elsewhere ”roloned the world right now. elsewhere prolonged attacks _ the world right now. elsewhere prolonged attacks on _ the world right now. elsewhere prolonged attacks on shipping | prolonged attacks on shipping are expected to result in higher diesel and jet fuel prices this summer in europe and that means travel could become more expensive we ships having to make longer voyages to avoid troubled route. we heard from an oil market specialist who expects fuel prices to stay elevated and travel to be more expensive during the peak season. first during the peak season. first of all european _ during the peak season. first of all european demand - of all european demand somewhere around 1.1 million dollars per day and we believe it could touch up to 1.7 million per day. that is a significantjump for europe and so far how europe has been managing the onslaught of not getting the coal from russia, not getting product from russia was that russian crude was

probably being refined in asia and other parts of the world and other parts of the world and a lot of was flowing from the middle east as well as asia. with the red sea crisis i think that flow has been curtailed. crude is also flowing less to europe, products are flowing less and i would say particularly, europe is going to face a hard pinch onjet and diesel is going to face a hard pinch on jet and diesel content. is going to face a hard pinch onjet and diesel content. it will certainly lead to an increase in prices. what are the knock—on effects of this in a year that will see so many elections taking place? that is a great question and i think election years are probably more consumption years as well. many gets pumped in and i guess that would be more demand going forward. in that sense i would say across the board we will see higher demand growth. all our rejection for this year is about 1.5 million barrels per day and a lot of that is in asia and china but i would say

that we are living in a world where we have level spares and there are a lot of regional and local scares. so a fractured supply change demand from asia but they are probably in a pinch. it but they are probably in a inch. ., , but they are probably in a inch, ., , ., but they are probably in a inch. ., ., ., pinch. x has admitted to removing _ pinch. x has admitted to removing accounts - pinch. x has admitted to removing accounts and l pinch. x has admitted to - removing accounts and posts related to the ongoing farmer protests in india. the site claims it down pages after the indian government sent them executive orders. in a statement, x said that while they had to comply with the orders they do not agree with the government's efforts to curtail freedom of expression. before we go, us space exploration company, intuitive machines has made history today by becoming the first private company to successfully land a com pa ny to successfully la nd a spacecraft company to successfully land a spacecraft on the moon. the odysseus touchdown near the site of pole of the more with moon with no astronauts on board. they will send another

spacecraft in march that will drill to find underground ice. bbc news, bringing you different stories from across the uk. jack and his fiancee beth are engaged and plan to tie the knot in 2026. but top of the wedding list isn't finding a new venue or the right suit, it's getting a new voice. my newborn computer voice is robot voice sounding like out of doctor who. jack, who has cerebral palsy, wants an authentically brummie voice to reflect his heritage and is inviting people to volunteer theirs. the 21—year—old has been using his current communication aid, which he controls with his eyes, since he was six years old, but the technology has come a long way since then. he wants to be able to say i do, and to say all his vows as a human at his wedding,

instead of as a robot. it is not a small commitment. the chosen volunteer will need to spend six to eight hours recording around 1600 phrases. so far, they've had half a dozen responses. but he need look no further. i think i've got a solution. all right, babb. i'm off up the road to get a cob. ta—ra a bit. david, that was rubbish. get out of my house. for more stories from across the uk, head to the bbc news website. iam i am steven wityk catch up. tonight, drunk driving warnings and american milestone and mysteries. first we are talking

about danny alvarez, the former brazil and barcelona player has won nearly every big trophy in football. on thursday he was found guilty of rape and sentenced to 11.5 years in jail. the court in spain found that in december 2022 he lowered a 23—year—old woman into a toilet at a nightclub in barcelona where he forced her to have sex. the sentence is less than the 12 year term the lawyers wanted. elvis is planning to appeal. if you have been affected by any of this you can get help and support on bbc actionline. a few other stories. more people are being caught for drug driving than drink—driving in some areas. that is what police chiefs have told us. they are worried it has become socially acceptable, especially among young people. next, have you avoided the rain this week? flood warnings for a lot of us with schools closed and problems on the roads and train routes. in central england it has been the wettest february on record. and some

history at the london marathon this year. it will be the first in the world to offer equal prize money for its wheelchair and able—bodied races. the prize pot for each will be just under a quarter of £1 million. and time for ten seconds of a mystery crime involving postboxes. these have been pepping up postboxes. these have been popping up all over dartford. once spray—painted like mr blobby, another like a cream egg. it is probably a safe that the banks is not behind any of this. have a great night.

hello and welcome to sportsday — i'm gavin ramjaun. changes for england, ahead of the fourth test with india — as captain ben stokes contends with cracks in the pitch in ranchi. the london marathon levels the playing field — wheelchair and able—bodied athletes will receive equal prize money. and a first start for frawley — he's among the many changes for ireland, as the six nations resumes this weekend. hello there, and welcome

along to sportsday. fast bowler ollie robinson is back in the england side